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BumRushDaShow

(160,900 posts) Tue Sep 2, 2025, 08:10 PM Sep 2

Hundreds of economists sign open letter backing embattled Fed Governor Lisa Cook after Trump attacks

Source: The Independent

Tuesday 02 September 2025 17:23 BST

More than 450 economists, including several Nobel Prize winners, have signed a letter in support of Federal Reserve Governor Lisa Cook, whom President Donald Trump has sought to oust on unproven allegations of mortgage fraud. The letter condemns elected officials for engaging in “rhetoric or actions that erode the Federal Reserve’s independence,” and specifically cites Trump’s recent unproven claims about Cook.

“Recent public statements about Governor Cook—including threats of removal and a claim that she has been fired—have arrived alongside unproven accusations,” the hundreds of economists said in the letter.

Trump moved to fire Cook on unproven claims that Cook committed mortgage fraud years ago by claiming two primary residences on loan applications. The allegation stems from Bill Pulte, the director of the Federal Housing Finance Agency, who has launched similar claims at notable Trump opponents.

Cook, who remains in her position, has sued Trump, claiming he is violating the law by trying to fire her because Federal Reserve governors can only be removed with “cause.”

Read more: https://www.independent.co.uk/news/world/americas/us-politics/lisa-cook-trump-federal-reserve-economists-b2818581.html

Link to latest court FILING (PDF) - https://storage.courtlistener.com/recap/gov.uscourts.dcd.284270/gov.uscourts.dcd.284270.17.0_4.pdf

Link to LETTER (PDF viewer) - https://tatyanaderyugina.github.io/fed-open-letter/

5 replies

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Hundreds of economists sign open letter backing embattled Fed Governor Lisa Cook after Trump attacks (Original Post) BumRushDaShow Sep 2 OP

Wait I hear Trump saying "left wing radical kooks". Fed will now operate from Lousiana if they agree to give Trump twodogsbarking Sep 2 #1

I don't think Dump can read mdbl Sep 2 #4

The Independent. Don't see on CNN's or NYT's front pages. Shameful. nt wiggs Sep 2 #2

The financial sites have it BumRushDaShow Sep 2 #3

MaddowBlog-Mortgage fraud allegations generate new political headaches for Team Trump LetMyPeopleVote Sep 8 #5

twodogsbarking

(16,005 posts)

1. Wait I hear Trump saying "left wing radical kooks". Fed will now operate from Lousiana if they agree to give Trump

Reply to BumRushDaShow (Original post)

Tue Sep 2, 2025, 08:28 PM

Sep 2

New Orleans.

mdbl

(7,459 posts)

4. I don't think Dump can read

Reply to twodogsbarking (Reply #1)

Tue Sep 2, 2025, 09:54 PM

Sep 2

They should have put it in a cartoon.

wiggs

(8,451 posts)

2. The Independent. Don't see on CNN's or NYT's front pages. Shameful. nt

Reply to BumRushDaShow (Original post)

Tue Sep 2, 2025, 08:41 PM

Sep 2

BumRushDaShow

(160,900 posts)

3. The financial sites have it

Reply to wiggs (Reply #2)

Tue Sep 2, 2025, 08:52 PM

Sep 2

CNBC - https://www.cnbc.com/2025/09/02/trump-lisa-cook-fed-powell-fraud.html
Bloomberg - https://www.bloomberg.com/news/articles/2025-09-02/over-450-economists-back-cook-fed-independence-in-open-letter
Barron's - https://www.barrons.com/news/economists-sign-letter-backing-fed-governor-cook-as-trump-attempts-ouster-a61aff91

LetMyPeopleVote

(170,372 posts)

5. MaddowBlog-Mortgage fraud allegations generate new political headaches for Team Trump

Reply to BumRushDaShow (Original post)

Mon Sep 8, 2025, 05:00 PM

Sep 8

Donald Trump urged reporters to start digging into officials’ mortgage records. Two weeks later, he probably wishes he hadn’t offered that advice.

Mortgage fraud allegations generate new political headaches for Team Trump www.msnbc.com/rachel-maddo...
— @jimrissmiller.bsky.social 2025-09-08T18:23:32.648Z

https://www.msnbc.com/rachel-maddow-show/maddowblog/mortgage-fraud-allegations-generate-new-political-headaches-team-trump-rcna229883

But the president’s challenge — perhaps reporters should “go check out the records” themselves — has proven to be interesting advice. ProPublica reported last week, for example:

Labor Secretary Lori Chavez-DeRemer entered into two primary-residence mortgages in quick succession, including for a second home near a country club in Arizona, where she’s known to vacation. Transportation Secretary Sean Duffy has primary-residence mortgages in New Jersey and Washington, D.C. Lee Zeldin, the Environmental Protection Agency administrator, has one primary-residence mortgage in Long Island and another in Washington, D.C., according to loan records.

A day later, Reuters advanced the broader story in an even more provocative way:

Close relatives of the federal official who has accused a Federal Reserve governor of improperly claiming primary residence on two properties have declared the same status on two homes in two different states, public records show. Mark and Julie Pulte, the father and stepmother of Bill Pulte, President Donald Trump’s appointee as director of the Federal Housing Finance Agency, since 2020 have claimed so-called ‘homestead exemptions’ for residences in wealthy neighborhoods in both Michigan and Florida, according to the records.

......That said, immediately after Pulte filed a criminal complaint against Cook with the Justice Department, quite a few observers made the case that the underlying issue is quite common and rarely prosecuted, which necessarily raised questions about selective enforcement and why the administration is going after the president’s perceived foes and not his allies who appear to have done the same thing.,,,,,

The senator added, “Donald Trump has made mortgage fraud accusations his weapon of choice to attack people standing in his way and people standing up to him, like me. ... Should we expect Trump and his enablers at [the Justice Department] to make sensational accusations against and investigate his own Cabinet?”

If recent history is any guide, I think we know the answer to that question.

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